Gold slips Rs 50; silver jumps Rs 600

Gold on Thursday slipped Rs 50 to Rs 63,050 per 10 grams in the national capital amid bearish trade in the overseas markets, according to HDFC Securities. In the previous close, the yellow metal had ended at Rs 63,100 per 10 grams.

However, silver bounced Rs 600 to Rs 79,100 per kilogram.

In the futures trade on the MCX, February contract of gold increased Rs 25 to Rs 62,440 per 10 grams. However, March contract of silver declined Rs 126 to Rs 75,360 per kg on the bourse.
Gold was trading lower at USD 2,037 per ounce, while silver was up at USD 24.25 per ounce in the global markets. In the context of the fall in gold prices, Saumil Gandhi, senior analyst of commodities at HDFC Securities, said the dollar index recovered some of its losses after better-than-expected US macro data.